Last year, BICon designed the annual MiFID ex-post reporting for a client and implemented it based on the Avaloq Performance Ruleset and Pillars. In addition, a daily product cost pillar was implemented for costs and fees not recorded on the system.
Since the Performance Ruleset (if accurately parameterized) already allocates all bookkinds per metatype and often even lower (per order type / asset flow template) to Performance Cash Flow Types, it was mainly only necessary to define and map a more detailed granularity of these cash flow types. For this purpose, Avaloq has extended the number of freely parameterizable performance cash flow types for this project, as the 20 available to date were not sufficient.
Because Avaloq does not offer a standard solution in the area of product costs, the analysis showed that the Performance Pillar with its daily market values and performance cash flows (in this context specifically for purchases and sales) also offers the best basis for calculating the daily product cost pillar.
Finally, this type of implementation also offers the possibility to show the impact of MiFID relevant costs and fees on the client's investment performance in every possible way. Also the listing of returns for mandate clients can be done without additional effort.
The whole project could thus be implemented efficiently and within budget, but still very accurately.
At the FMA review, the reporting was praised and recommended as a template for other banks.
If you are interested, we would be happy to discuss this with you: E-Mail